Metro, Inc. sells backpacks. The Company's accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending Inventory at 20% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $79,000. All purchases are made on account with 25% of accounts paid in the month of purchase and the remaining 75% paid in the month following the month of purchase. Sales Budgeted cost of goods sold January February March $44,500 $59,000 $64,500 Plus: Desired ending inventory 11,800 Inventory needed 56,300 Less: Beginning inventory (8,900) Required purchases $47,400 Based on this Information the total cash paid in March to settle accounts payable is Multiple Choice $45,075 $16,850. $67,400.